QMS Medical Allied Services Limited — Investor Meet, 20-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

QMS Medical Allied Services reported Q2 FY26 net revenue of Rs. 44.7 Cr (+20% YoY) and H1 revenue of Rs. 91.2 Cr (+35% YoY). Q2 EBITDA was Rs. 6.9 Cr (15.5% margin), PAT Rs. 3.6 Cr (8% margin).

The company completed a 76% stake acquisition in Saarathi Healthcare, with financials reflecting from next quarter. Service segment EBITDA margins are 20-22%, product 10-12%. Current margin dip is attributed to pricing adjustments for higher volume and strategic investments in people/infrastructure, with normalization expected next year.

QMS conducted 16,200 B2B health camps in H1, projecting ~33,000 for FY26. Management is confident, leveraging patient-centric pharma trends, expanding service offerings, and long-term plans including AI integration and Asia-Pacific expansion.